Press room

• Delivering the best customer experience, expanding its B2C offering, scaling the B2B business, evolving its technological capabilities, simplifying its operating model, and developing talent are the six pillars underpinning Telefónica’s new five-year strategic plan.
• Transform & Grow is a growth plan focused on four core markets — Spain, Germany, the United Kingdom and Brazil — aimed at positioning Telefónica as a world-class European telco with profitable scale.
• Simplifying our operating model will achieve tangible, measurable efficiencies throughout the plan’s execution, which lays out a clear and ambitious roadmap with a commitment to meet both targets and timelines.
• The plan acknowledges that investment in the European telecoms market has been inefficient due to the operators’ lack of scale when compared to the US and Chinese markets, with fewer and much larger companies. While it does not include consolidation opportunities, the plan means that Telefónica will be fully prepared to seize any that may arise to create value for shareholders.
• The financial targets of the plan include a compound annual growth rate (CAGR) of 1.5–2.5% in revenues between 2025 and 2028, accelerating to 2.5–3.5% between 2028 and 2030; and a compound annual growth rate of 1.5–2.5% in adjusted EBITDA for the 2025–2028 period, accelerating to 2.5–3.5% between 2028 and 2030.